Green building: A property investment strategy and constitutional mandate

By Dr Mike Juru
In Zimbabwe’s evolving property landscape, a paradigm shift is underway.
The emergence of ESG has drawn investors to increasingly align their strategies with the country’s constitutional environmental rights, recognising that green building is both a moral imperative and a sound financial decision.
The Constitution of Zimbabwe, specifically Section 73, enshrines the right to a clean and healthy environment, setting a clear mandate for sustainable development in the built environment.
Constitutional Foundation: Environmental Rights (Section 73)Section 73(1) of the Zimbabwe Constitution states: “Every person has the right to a clean and healthy environment, which includes the right— (a) to have the environment protected for the benefit of present and future generations, through reasonable legislative and other measures; and (b) to have access to information regarding the state of the environment.
This provision underscores the importance of integrating environmental stewardship into property development, making green building not just a trend but a constitutional consideration.
The Business Case for Green Building
Beyond compliance and environmental responsibility, green building presents a compelling investment strategy.
Properties designed with sustainability in mind offer tangible financial benefits:- Reduced Operating Costs: Energy-efficient systems and sustainable materials lower utility bills and maintenance expenses.- Enhanced Property Value: Green buildings command higher valuations and attract premium tenants.- Market Differentiation: Sustainable properties appeal to environmentally conscious investors and occupants, boosting occupancy rates.- Regulatory Alignment: Compliance with environmental laws mitigates legal risks and future-proofs investments.
The 4 Key Aspects of Green Building
Green buildings focus on optimising four critical areas: energy, water, waste, and materials.
Energy: Powering EfficiencyIn Zimbabwe, where energy constraints are a reality, green buildings leverage solar power, LED lighting, and smart HVAC systems to reduce consumption.
Residential properties with Solar are known to retain tenants and attract higher rentals.
Solar further provides energy security and independence.Water: Conservation in ActionWith drought risks rising, water-efficient fixtures and rainwater harvesting are becoming standard in green developments.
A Bulawayo project reduced water usage by 50% using low-flow taps and greywater recycling, showcasing both environmental and financial prudence.Waste: Minimising ImpactGreen buildings prioritise waste reduction through recycling programs and sustainable construction practices.
Some property investors are cutting waste disposal costs by 30% by implementing on-site composting and partnering with local recycling firms.Materials: Sustainable SourcingUsing locally sourced, eco-friendly materials reduces carbon footprints and supports local economies.
A major development in Harare used sustainable timber and low-VOC paints, enhancing indoor air quality and aligning with global ESG standards.
Procuring locally manufactured goods reduce embedded emissions.Zimbabwe’s Context: Opportunities and ImperativesZimbabwe faces energy challenges and climate vulnerabilities, amplifying the relevance of green building:- Energy Efficiency: Solar integration and efficient HVAC systems address power constraints.- Climate Resilience: Sustainable designs mitigate risks from droughts and floods.- Economic Growth: Green buildings attract international investors aligned with ESG criteria.
Case Study: Harare’s Green Office Developments
Recent projects in Harare showcase green buildings fetching 15-20% higher rents and achieving faster occupancy. Developers leveraging green certifications (like EDGE) tap into a growing market of sustainability-focused tenants.After years of involvement in the green revolution, here are Strategic Takeaways for Investors
1. Align with Constitutional Mandates: Embed environmental responsibility into projects.
2. Pursue Green Certifications: Enhance marketability and value.
3. Future-Proof Investments: Anticipate regulatory shifts and tenant preferences.4. Leverage Incentives: Explore tax breaks or grants for sustainable development.In Zimbabwe’s dynamic property landscape, green building merges constitutional duty with smart investment. By prioritising sustainability, investors not only uphold environmental rights but also position themselves for superior returns in a greener future.
Dr Juru is a recognised and accomplished business leader who is the current Chairman of the Green Building Council Zimbabwe and CEO of Integrated Properties. His previous National leadership roles include Chairman of Institute of Directors Zimbabwe, President of Real Estate Institute of Zimbabwe, Chairman of the Valuers Council of Zimbabwe, inaugural Chairman of REITs Association, Vice President ZNCC. He has sat on several Boards in private and public sector. He leads passionately the transformation of Zimbabwe’s built environment to sustainability.